CFA Exam Misconduct and Rules Violations

If you engage in any misconduct during the exam, you may be dismissed from the test center and subject to other penalties, including voiding of exam results and suspension or termination of your candidacy in the CFA Program.

Misconduct is any activity or conduct that compromises or attempts to compromise the reputation, integrity, validity, or security of the CFA exam. This includes conduct occurring during enrollment/registration, as well as conduct before, during, and after the administration of the CFA exam.

Misconduct includes, but is not limited to:

  • Creating a disturbance during the exam;
  • Giving or receiving assistance on the exam, attempting to communicate with fellow candidates or other persons, and/or using books, papers, or other study aids during the exam; 
  • Opening, working on, or reading the exam during a time not authorized by the testing personnel; 
  • Writing or erasing after instructed to stop at the conclusion of the timed portion of the exam; 
  • Removing exam materials or notes from the testing room; 
  • Taking part in an act of impersonation or other forms of cheating; 
  • Failing to follow the directions of testing personnel before, during, and after the exam; 
  • Using unapproved calculators, mobile phones, cameras, headsets, computers, tablets, wearable technology such as fitness tracking devices, smart watches, or any other remote communication or photographic devices, during the exam;
  • Using scratch paper including writing on the front or back of your exam admission ticket before, during, or after the exam; 
  • Asking for, receiving, or using unauthorized CFA exam questions or exam prep materials that violate CFA Institute copyright when preparing for the exam;
  • Sharing CFA exam content with others after the administration of the exam;
  • Failing to comply with any CFA Institute testing policy, exam rule, and/or CFA Institute governing documents including the Bylaws, Code of Ethics, Standards of Professional Conduct, and Rules of Procedure for Professional Conduct as amended from time to time; and 
  • Engaging in any other conduct that could be considered by CFA Institute, in its sole discretion, to compromise or attempt to compromise the reputation, integrity, validity, or security of the CFA exam or CFA Institute.

Candidates are "covered persons" under CFA Institute Bylaws (PDF) and the Rules of Procedure for Professional Conduct (PDF). Therefore, any proceeding/investigation of a candidate's alleged misconduct is considered a professional conduct matter.